Healthcare Realty Trust Announces Full Year 2021 Acquisition and Disposition Activity
NASHVILLE, Tenn., Jan. 04, 2022
NASHVILLE, Tenn., Jan. 04, 2022 (GLOBE NEWSWIRE) -- Healthcare Realty Trust Incorporated (NYSE:HR) today announced acquisition and disposition activity for the full year ended December 31, 2021. The Company acquired 44 buildings in 38 transactions totaling 2.1 million square feet for $756 million at a weighted average cap rate of 5.3%, exceeding the $700 million high end of the Company’s most recent acquisitions guidance. In the fourth quarter, the Company acquired 19 buildings in 16 transactions for $298 million, adding to the Company’s targeted clusters in eight markets including Nashville, Denver, Los Angeles and Austin.
During 2021, the Company’s joint venture partner, TIAA, funded $90 million in 12 buildings. For the full year, the Company sold 17 medical office buildings totaling 905,000 square feet for $188 million at a weighted average cap rate of 4.9%.
The Company currently has 14 buildings under letter of intent to purchase for approximately $300 million that are expected to close in the first half of 2022. Approximately half of this volume is expected to be acquired through the joint venture with TIAA. The Company also has approximately $100 million under letter of intent to sell.
Healthcare Realty Trust is a real estate investment trust that integrates owning, managing, financing and developing income-producing real estate properties associated primarily with the delivery of outpatient healthcare services throughout the United States. As of September 30, 2021, the Company was invested in 245 real estate properties in 24 states totaling 17.4 million square feet and had an enterprise value of approximately $6.1 billion, defined as equity market capitalization plus the principal amount of debt less cash. The Company provided leasing and property management services to 13.8 million square feet nationwide.
In addition to the historical information contained within, the matters discussed in this press release may contain forward-looking statements that involve risks and uncertainties. These risks are discussed in filings with the Securities and Exchange Commission by Healthcare Realty Trust, including its Annual Report on Form 10-K for the year ended December 31, 2020 under the heading “Risk Factors,” and as updated in its Quarterly Reports on Form 10-Q filed thereafter. Forward-looking statements represent the Company’s judgment as of the date of this release. The Company disclaims any obligation to update forward-looking statements.
Kara Smith
Investor Relations Manager
P: 615.269.8175
Healthcare Realty Trust, Inc.
Symbol: HR
CIK: 899749
Exchange: NYSE
Founded: 1993 (31 years)
Type of REIT: Equity REIT
Listing Status: Public
Market Capitalization: Mid-Cap
REIT Sector: Health Care
REITRating is REITNote's Real Estate Investment Trust industry-specific rating and ranking system. The overall score is out of ten points, with ten being the best score.
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Last updated: 2024-12-22 - v1.3